XP Inc.

XP Inc.

XP Inc. was founded in 2001 by Guilherme Benchimol in Rio de Janeiro, initially offering independent brokerage services in a market dominated by a few large banks. The firm went public on the Nasdaq in 2019 at a valuation of $19 billion, marking one of the largest LatAm fintech IPOs (per The Wall Street Journal, 2019). Benchimol remains CEO. XP’s asset management division invests across equities, fixed income, multi-asset, private credit, and infrastructure. It has deployed capital through vehicles such as XP Malls FII (a real estate fund) and XP Infra (for infrastructure debt). The firm's proprietary deal flow comes from its 1,300-strong advisor network and its digital platform, which sources investment opportunities from corporate clients. Geographically, XP focuses on Brazil, with growing exposure to other Latin American markets. The firm employs roughly 7,000 people across offices in Rio de Janeiro, São Paulo, and New York. In May 2025, XP launched a $1 billion infrastructure fund targeting renewable energy and logistics projects in Brazil (per Reuters, May 2025). XP operates no philanthropic foundation disclosed separately from its corporate structure. XP's structural differentiator lies in its vertical integration: it controls the distribution, asset management, and banking relationship with millions of retail and institutional clients in Brazil. This creates a flywheel where proprietary investment products are marketed through its own advisor network, a model rare among global asset managers and unique in Latin America.